Loans & Advances Management

The system provides the facility to extend an Advance against future business expense to an employee and adjusting for the same against actuals.

The system also has the facility to extend a loan to an employee. The amount is recorded, along with relevant details like: 1) Duration of the loan 2) Interest Rate 3) EMI Calculation 4) A setting option to deduct loan EMI from salary payable to the employee every month directly while calculating salary payable during the payroll process. Employees can track their loan amount and pending deductions